South Korea urges better cooperation on supply chain with China
SEOUL (Reuters) - South Korea's finance minister on Thursday said Seoul and Beijing should seek better economic cooperation on the supply chain for raw materials. "We should lead global industries by cooperating on supply chain and technologies acr...
9h ago
Exclusive-Chevron prepares for North Sea exit after more than 55 years
By Ron Bousso LONDON (Reuters) - Chevron is set to launch the sale of its remaining UK North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years. The process comes as Chevron...
9h ago
Exclusive-Fed's Williams welcomes inflation data, not ready to seek rate cuts
By Michael S. Derby NEW YORK (Reuters) - Federal Reserve Bank of New York President John Williams welcomed the arrival of softer consumer inflation data, he told Reuters, but said that positive news is not enough to call for the U.S. central bank t...
9h ago
Transcript of interview with New York Fed's Williams
By Michael S. Derby NEW YORK (Reuters) - Federal Reserve Bank of New York President John Williams was interviewed by Reuters on Wednesday. The following transcript has been edited for clarity: MICHAEL DERBY: We speak today on a day where we got so...
9h ago
Morning bid: New highs hold as disinflation resumes, US cools
A look at the day ahead in U.S. and global markets from Mike Dolan World stocks notched new records and the dollar nursed its worst day of the year as fears of an overheating U.S. economy dissipate - stirring hopes that the coast is clearing for Federa...
9h ago
Israel's economy rebounds in wake of Gaza war, grows 14.1% in Q1
JERUSALEM (Reuters) - Israel's economy recovered sharply in the first quarter of 2024 after a steep contraction in late 2023 that followed the start of war in Gaza with Palestinian Islamist group Hamas last October. The Central Bureau of Statistics...
9h ago
Basel battle: Goldman's unlikely foot soldiers in the fight against bank capital hikes
By Pete Schroeder WASHINGTON (Reuters) - Jeff Riggs, a Montana businessman who owns a small data center, flew to Washington D.C. in November to meet with his U.S. Senator Steve Daines. The trip wasn't his idea. It was arranged, paid for and scripte...
9h ago
Chinese retailer JD.com reports Q1 revenue above estimates
(Reuters) - Chinese online retailer JD.com on Thursday reported first-quarter revenue that beat market estimates, as deep price cuts helped boost sales that had been hit hard by cautious customer sentiment. U.S.[listed shares of the company rose ab...
9h ago
Meta faces EU investigation over child safety risks
By Foo Yun Chee BRUSSELS (Reuters) - Meta Platforms' social media sites Facebook and Instagram will be investigated for potential breaches of EU online content rules relating to child safety, EU regulators said on Thursday, a move that could lead t...
9h ago
Deere cuts 2024 profit forecast as falling crop prices squeezes demand
(Reuters) - Deere trimmed its annual profit forecast for the second time on Thursday, as farmers buy fewer tractors and combine harvesters due to falling crop prices. The world's largest farm equipment maker said it now expects fiscal 2024 net inco...
9h ago
Digitalisation of banking creates new risks, says global watchdog
By Huw Jones LONDON (Reuters) - The digitalisation and entry of Big Tech into finance create new vulnerabilities and amplify existing risks in the banking system that may need new rules to mitigate, global banking regulators said in a report on Thu...
9h ago
Deutsche Bank under fire from investors over Postbank problems
By Tom Sims FRANKFURT (Reuters) -Big investors in Deutsche Bank vented their frustration at Germany's top lender on Thursday, describing problems at its Postbank business as a trust-damaging embarrassment. The complaints at Deutsche's annual general me...
9h ago
Swedish court rejects Tesla appeal in licence plate case
OSLO (Reuters) - A Swedish appeals court upheld on Thursday a dismissal of Tesla's lawsuit against Sweden's Transport Agency in a conflict over licence plates, part of a wider dispute between the U.S. company and labour unions in the Nordic country...
9h ago
GameStop, AMC slide as meme stocks rally loses steam
(Reuters) - Retail darlings GameStop and AMC continued their slide into premarket trading on Thursday, as the euphoria over the return of "Roaring Kitty", who was the central figure in 2021 meme stock rally, fizzles out. Shares of the struggling vi...
9h ago
Futures edge higher as softer inflation report lifts rate-cut hopes
(Reuters) - U.S. stock index futures inched higher on Thursday, putting Wall Street on track to extend gains from the all-time highs hit in the previous session as a tepid inflation report bolstered hopes of interest-rate cuts. All three major inde...
10h ago
Tel Aviv Stock Exchange to align trading week with global bourses
By Steven Scheer JERUSALEM (Reuters) - The Tel Aviv Stock Exchange (TASE) is planning to alter its schedule and add Friday to the trading week in a bid to strengthen the Israeli bourse's global profile, it said on Thursday. The exchange hopes a dec...
10h ago
AIG to sell 20% stake in Corebridge for $3.8 billion
(Reuters) - American International Group said on Thursday it would sell a 20% stake in its life insurance and retirement unit Corebridge Financial for $3.8 billion. The stake would be sold to Nippon Life Insurance Company, and the deal is expected ...
10h ago
Fears of German 'de-industrialisation' may be overblown - for now
By Maria Martinez BERLIN (Reuters) - High energy costs, weak global demand, a disruptive shift towards net-zero economies, and growing competition from China are raising existential questions for Germany's economic model. CEOs and business lobbies...
10h ago
Adidas plans cheaper versions of popular shoes
By Linda Pasquini (Reuters) - Adidas is launching cheaper versions of its three-striped shoes like the white and black suede Samba as it aims to spread the trend, CEO Bjorn Gulden said on Thursday at the company's annual shareholders' meeting in Ge...
10h ago
Foreign investors snap up long-term Japan bonds after three-week selling streak
(Reuters) - Foreign investors ended a three-week trend of selling Japanese bonds by purchasing long-term securities, although analysts suggest the rebound could be fleeting amid ongoing market uncertainties. They bought 1.7 trillion yen in long-ter...
11h ago
Swap old for new: China's latest property market plan off to a poor start
By Liangping Gao and Clare Jim BEIJING/HONG KONG (Reuters) - A campaign by Chinese authorities to encourage people to replace their old apartments with new ones is attracting interest, but faces one major hurdle: the participants in the scheme are ...
11h ago
White House moves to protect US solar manufacturers from Chinese competition
By Nichola Groom (Reuters) - The White House on Thursday said it would protect domestic solar factories from Chinese competition by scrapping a tariff exemption for imported double-sided panels and making it easier for projects to claim a subsidy f...
11h ago
Toyota tests new EV pickup truck ahead of mass production in Thailand
By Devjyot Ghoshal BANGKOK (Reuters) - Toyota Motor is testing the new battery-electric Hilux pickup truck to assess its performance in different conditions as the car maker prepares to manufacture the vehicle in Thailand by the end of 2025, an exe...
11h ago
Chinese overcapacity claims by US, Europe are 'trade protectionism', ministry says
BEIJING (Reuters) - China said on Thursday that U.S. and European assertions of excess capacity were "naked trade protectionism" and that efforts to constrain new energy exports from the World's No.2 economy would frustrate global efforts to tackle...
11h ago
Newly privatised Toshiba to cut 4,000 jobs in restructuring drive
By Sam Nussey TOKYO (Reuters) - Japan's Toshiba said on Thursday it will cut up to 4,000 jobs domestically as the industrial conglomerate accelerates restructuring under new ownership. Toshiba delisted in December due to a $13 billion takeover by a...
12h ago